At-a-Glance

Key Takeaways with Craig

US Equity Index prices were higher again today despite an 8% rise in WTI Crude Oil futures and a 2 to 3 rise in CME Group grains futures prices.  Additionally, the price of Gold futures rose by over 1.5% and the US Dollar fell against most major currencies in CME’s FX futures markets. Interestingly, if you look at the quotes on today's newsletter, every product traded in the green... quite fitting for St. Patrick's Day!

We didn’t see exaggerated moves in the options markets associated with the price movement mentioned above. 

  • WTI Crude Oil options implied volatility ticked higher, as did the Calls relative to Puts, but not dramatically
  • E-mini S&P 500 and Nasdaq-100 implied volatility continued lower and is trading right at the 3-month average (30-day)
  • Neither US Treasury yield nor volatility were substantially changed from yesterday’s close
  • Somewhat interestingly, the skew in the Corn options market continued to trend toward the Puts, even as the price rose by over 3% today. This is illustrated in the QuikStrike graph below of the 25 Delta Risk Reversal

We’ll be back to wrap the week tomorrow and good luck to everyone with their tournament brackets!

Today's Future Price Action

Traders Resources

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